Vancouver — A newly released technical report and updated resource estimate have given Oremex Resources (ORM-V, OREXF-O) enough confidence to launch a preliminary economic assessment of the Tejamen silver-gold project in Durango state, Mexico.
The technical report by Wardrop Engineering shows a 25% increase in silver resources at the project, prompting the company to retain an independent consulting firm to prepare a preliminary assessment of the project as a potential open-pit, heap-leach mine.
The inferred resource at Tejamen stands at 22.6 million tonnes grading 66.9 grams silver and 0.05 gram gold per tonne, based on a cutoff of 20 grams silver per tonne.
To date, the company has drilled 217 rotary-percussion, reverse-circulation drill holes totalling 36,139 metres. Drilling was laid out on 50-metre lines with drill stations every 30 metres. More drilling is planned, aimed at adding to the resource, which remains open in several directions, and infill drilling where appropriate to provide data for an eventual feasibility study.
Recent metallurgical test work has shown that silver recoveries of up to 72% can be achieved from high-grade samples after 130 days of leaching, with a 63% extraction rate after 86 days from composite samples. (Silver recovery rates by cyanidation are typically lower that recovery rates achieved at gold heap-leach mines.)
Oremex is the most advanced of eight Mexican properties owned by the company. Another priority project is the San Lucas property, also in Durango state, where drilling is testing a large disseminated silver-gold system with associated lead and zinc.
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